HR 942 · 98th Congress · Foreign Trade and International Finance
Foreign Investors Limitation Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.(1983-02-02)
Plain Language Summary
[AI summary unavailable — showing source text]
Foreign Investors Limitation Act - Amends the Securities Exchange Act of 1934 to require the Securities Exchange Commission (the SEC) to prohibit persons who are not U.S. citizens, or who are controlled by non-U.S. citizens, from acquiring more than either five percent of any registered voting securities or more than 35 percent of any registered nonvoting securities. Prohibits non-citizens, or persons controlled by non-citizens, from acquiring any more registered securities if they own more than the specified percentages of such securities as of the enactment of this Act. Requires the SEC to provide for the registration of such non-citizens before such persons may acquire any registered securities.…
Summarized by Claude AI · Non-partisan · For informational purposes only